Handle downloaded transactions like imported transactions

Jon Phipps

Although I recognize that MoneyWiz is working very hard to strike a balance between fully automated and more manual, it often makes incorrect assumptions about downloaded transactions.

Right now for instance, I have an issue with credit card payment transactions that I've deleted because they were replicated by a transfer being reimported on the next download. I also have many transactions that I've recategorized after download but MW isn't consistently recognizing the correct categories on the next download.

I think the best approach to importing downloaded transactions would be to handle them the same way 'normal' imported transactions are handled -- step through the imported payees, categories, and duplicates and prompt for matching or 'create new' at each step (I'm thinking of the OSX version).

And then make this optional. You already have the workflow in place. If I've selected the new option: 'review downloaded transactions before import', then MW would accumulate the downloaded transactions in each account for review, with a flag on the account in the account list. I can then go to the accounts with unreviewed transactions and 'import' them using the normal import process. If I haven't selected that option, MW continues to do what it does now.

Joe Hood

said
over 2 years ago

I'm also unhappy with how the over-automated online banking method involves re-categorising every transaction.
I think the Salt Edge/Yodlee servers are trying to learn the 'correct' category for each payee, but we all know that different people buy different things from different shops. E.g. Someone may buy a sandwich from Boots (UK) every day and classify it as Meals, someone else may only buy Beauty Products.
Also, I have set categories which my accountant uses, and I have to stick to them. It's crazy how MoneyWiz creates new categories without even notifying the user, let alone asking.
I've made the same suggestion as you to the support team, so if enough of us get on the band-wagon, hopefully they will implement their own brilliant category/payee matching system in the online banking method.
While it may make sense to auto-categorise for some less advanced users, it's imperative that the user can control the categories themselves at the import stage.

1 person likes this

Pawel

said
over 2 years ago

We'd appreciate all users concerned about this feature to participate in this topic: